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how do you close a bank account

You close a bank account by first moving your money and automatic payments elsewhere, then asking the bank to shut the account and giving them any documents or confirmations they require.

Quick Scoop: Key Steps

1. Prep before you pull the plug

Do these first so nothing bounces or goes missing.

  • Open your new account (if you still need a bank) before closing the old one.
  • Make a list of all automatic activity:
    • Salary or benefits direct deposits.
* Subscriptions and bill autopays (utilities, streaming, phone, loans, insurance).
  • Check for:
    • Pending card transactions.
    • Outstanding checks you’ve written.
    • Scheduled transfers or payments.

Only move on once you’re sure everything important is identified; this keeps you from overdrafts and fees.

2. Move your money and payments

You’re basically “migrating” your financial life from one account to another.

  • Switch direct deposits to your new account (give your employer or payer the new routing and account numbers).
  • Update autopays for:
    • Utilities, rent, mortgage, credit cards, streaming, phone, etc.
  • Wait a short period (often 1–2 statement cycles) to be sure:
    • New deposits are arriving in the new account.
    • Old autopays have stopped hitting the old account.
  • Once everything has cleared, transfer the remaining balance from the old account (wire, ACH transfer, check, or cash withdrawal as allowed by your bank).

Example:
You move your salary deposit and Netflix/phone autopay to your new bank, wait a month to see that nothing hits the old account, then transfer the leftover balance and go to close it.

3. Ask the bank to close it

How you actually “shut” the account depends on the institution.

Common options banks use:

  • Call customer service and request closure (they’ll verify your identity and may read a disclosure about fees or timelines).
  • Visit a branch and sign a closure form in person.
  • Use online banking or the mobile app:
    • Some banks let you close accounts via secure message, live chat, or a dedicated “close account” request.
  • Send a written request letter if the bank requires it (common with some larger banks and older policies).

If your bank insists on a written letter, include:

  • Your full name and contact info.
  • Account type (checking, savings, etc.) and account number.
  • A clear request: “Please close my account and send any remaining funds to…”
  • Signature and date.

Some banks even want this letter notarized, especially for certain account types or when mailed from far away.

4. Confirm it’s really closed

Don’t assume “we’ll take care of it” is the end.

  • Ask for written confirmation :
    • Email, secure message, or letter stating the account is closed and the final balance is zero.
  • Check one last statement (online or paper) to confirm:
    • No remaining balance.
    • No surprise fees or stray transactions.
  • Destroy old debit cards and unused checks tied to that account to prevent fraud.

If you see a fee or unexpected charge, contact the bank immediately and dispute or resolve it.

5. Watch out for common “gotchas”

These small mistakes can come back to bite later.

  • Closing too early:
    • A bill hits your “closed” account, gets rejected, and you’re charged late or NSF fees.
  • Forgetting joint owners:
    • Some banks require both owners to agree in writing to close a joint account.
  • Negative balances or unpaid fees:
    • Banks often refuse to close until the balance is zero; they may send unpaid amounts to collections.
  • Dormant-account fees:
    • If you leave the account almost empty but open, inactivity fees can slowly drag it negative.

A safe approach is to keep a small buffer in the old account while you test everything at the new one, then move the last bit of money and close it once you’re sure.

Bottom line: Move your direct deposits and autopays to a new account, let everything clear, then ask your bank—by phone, in-branch, online, or by letter—to close the old account and send written proof that it’s done.

Information gathered from public forums or data available on the internet and portrayed here.